Agoda joins the APAC BNPL club with Visa
Global travel platform Agoda will become the first global online travel agency to offer interest-free credit card instalments across its booking platform in the Asia Pacific region, following a new partnership with Visa.
At present, these instalments can be enjoyed by HSBC Bank Malaysia credit card holders. Over the coming years, however, Visa and Agoda will progressively roll out this offering regionwide to locations like Australia, Hong Kong, Singapore, Thailand, Vietnam and the Philippines, each with respective issuing banks.
"As the world transitions from a pandemic to an endemic state, there is great demand for digital-first experiences to accommodate for changing consumer behaviours and purchasing patterns,” says Thi- Agoda’s CFO Mai-Linh Bui.
“At Agoda, we are always looking for innovative ways to help people gain more accessibility – using technology to simplify the search, booking and payment processes.”
To enjoy this benefit, Visa cardholders will simply need to enter their credit card details at the point of checkout. An instalment option will appear for eligible cardholders. Following this, travellers can select their preferred instalment period via Agoda's mobile app and website, with no additional charges or fees.
"The buy now, pay later trend is here to stay, so add instalments to the list of consumer expectations for speed, safety and convenience, even when they're booking their holidays," says Conor Lynch, head of consumer solutions, Asia Pacific, Visa.
"We're excited for Agoda to join the growing list of businesses in Asia Pacific giving their customers the ability to pay in instalments. It's particularly great to see instalment payments taking off in the travel industry at the same time people are getting their 'revenge travel' plans underway.”